Access Bank transfers assets, liabilities to National Bank Kenya… 16 months after acquisition

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• Still presence in 17 countries

BY BONNY AMADI

The Central Bank of Kenya (CBK) on Wednesday announced the transfer of all assets and liabilities of Access Bank Plc to the National Bank of Kenya (NBK) Limited on September 21, 2026

The Nigerian Bank, wholly owned subsidiary of Access Holding Company Plc, currently prides of subsidiaries in 17 countries globally.

The transfer of the Bank’s Kenyan subsidiary assets and liabilities to National Bank of Kenya, follows the approval by the Central Bank of Kenta (CBK) on August 17, 2026, under section 13 (4) of the banking Act and approved by the Cabinet National Secretary for National Treasury and Economic Planning pursuant to section 9 (1) of the Kenyan banking Act.

According to the Central Ba k of Kenya in a statement dated September 23,2026, the transfer shall take effect upon completion of the transaction in accordance with terms of the business and asset transfer agreement between the parties

Meanwhile, the National Bank of Kenya was incorporated in 1968 as a wholly owned government entity with the objective of assisting Kenyans to access credit and control, the economy after independence.

In September 2019, KCB Group Plc acquired 100 per cent shareholding of the National Bank of Kenya. Subsequently, in May 2025, Access Bank Plc acquired 100 per cent of the issued share capital of NBK from. KCB Group.

Access Bank Plc Nigeria entered the Kenyan market in February 2020 after acquiring 100 per cent of the issued share capital of Transnational Bank Plc and renamed it Access Bank Kenya Plc. Transnational Bank Plc commenced its operation in December 1985.

Access Bank was incorporated in February 1989, and it ranks among the large banking groups in Nigeria it is a wholly owned by king subsidiary of Access Holdings Plc, and has subsidiaries in various African countries, including Botswana, Cameroon, Democratic Republic of Congo (DRC), Gambia, Guinea, Kenya, Mozambique, Rwanda, Nigeria, South Africa, Sierra Leone, and Zambia.

The bank also has subsidiary in the United Kingdom and operational representative offices in China, India, and Lebanon, and a branch in the United Arab Emirates (UAE).

The Central Bank of Kenya of Kenya (CBK) said that it welcomes this transaction as it will ensure continued stability and enhance resilience of the Kenyan banking sector.